Is Insurance An Expense Or Revenue. Insurance expires at the rate of ¥100 per month. In most cases, you cannot deduct your life insurance premiums.
Revenue expenditure appears in the income statement (profit & loss account), as it generates benefits to the entity for that particular accounting year, in which it took place. Therefore basic formula to calculate profits for the insurance companies is : A manufacturer will report on its income statement the insurance expense incurred for its selling, general and administrative functions.